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Politics : Formerly About Applied Materials

AMAT 322.34

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Jan 23 9:30 AM EST

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To: Cary Salsberg who wrote (46380)	5/7/2001 10:11:48 PM
From: Katherine Derbyshire	Read Replies (4) of 70976

>>I have worried that a democracy cannot survive if a large part of the population is reduced to third world standards of living.<< Democracy is resilient. You'll see a strong shift toward more protectionist policies and more robust social welfare systems long before any such reduction in the standard of living happens. >>Social welfare, such as subsidized housing, nutrition, medical care, child care, aged care, and higher education, will be necessary to maintain a safety net for many citizens whose full time jobs fail to provide an adequate lifestyle.<< Such a safety net has been the standard in Europe for many years. The safety net is also blamed for consistently high levels of unemployment, but many (most?) Europeans are clearly willing to accept the tradeoff. >>I do not believe that a socialist society works as well as an isolated, integrated capitalist society where the members consume what they produce. << Maybe not, but is an isolated capitalist society even possible? US trade barriers are among the lowest in the world already. For that reason, free trade agreements usually require the other country to give up more than the US does. Katherine

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